Richard G. Ziegler

Richard Ziegler is a counsel in Mayer Brown’s Chicago office.  He advises financial institutions and other business enterprises in matters involving insolvency, restructuring and bankruptcy.  He has represented clients in bankruptcy cases in the automotive, financial, retail, energy, telecommunications, airline and real estate sectors.  He consults frequently on structural and bankruptcy issues related to structured finance transactions, factoring arrangements, repurchase agreements, and derivatives transactions. 

Richard practiced with prominent firms in Detroit and Chicago before joining Mayer Brown in 1993.

Notable Representations

• A major US Bank, as administrative agent, under the pre-petition and post-petition A/R securitization facility in the chapter 11 bankruptcy case of Centric Brands Inc. This financing utilized securitization technology and DIP lending in a court-approved, complex hybrid securitization/DIP facility. This restructuring was awarded “Chapter 11 Restructuring of the Year (Large)” at Global M&A Network’s 2021 Annual Turnaround Atlas Awards.
•  A major international financial institution, as administrative agent, under the $1.6 billion Donlen ABS facility in the Hertz chapter 11 case and, as administrative agent, under a $400 million post-petition ABS facility with respect to the Donlen fleet leasing business.
• A major US Bank, as administrative agent, in connection with the letter of credit DIP Facility in Covia Holdings Corp.’s chapter 11 case. This innovative letter of credit facility utilized securitization technology and harmonized complex intercreditor issues with certain secured lenders. This restructuring was awarded “Materials & Resources Restructuring of the Year” at Global M&A Network’s 2021 Annual Turnaround Atlas Awards.
• Goldman Sachs Lending Partners LLC, as sole structuring agent and lead left arranger and bookrunner, and Goldman Sachs Bank, as administrative agent, on a first-of-its-kind $6.8 billion financing consisting of $3.8 billion of senior secured high yield bonds and $3 billion of senior secured institutional term loans to MileagePlus Holdings, LLC, a direct wholly-owned subsidiary of United Airlines, Inc., with each of the loans and bonds secured by United Airlines’ loyalty program, MileagePlus, and subject to a parent guarantee by United Airlines, Inc. and United Airlines, Holding Inc. and guarantees by certain other subsidiaries of United. This innovative transaction involved the contribution of intellectual property of the MileagePlus program to a newly formed offshore subsidiary that was structured to be bankruptcy remote.
• Jaguar LandRover in the bankruptcy case of TK Holdings Inc. and the global restructuring of Takata Corporation.
• Numerous significant financial institutions with derivatives claims in the chapter 11 case of Lehman Brothers Holdings Inc., negotiation on behalf of a $400 million claim holder of the derivatives claim protocol for the Lehman chapter 11 plan, negotiation and documentation of derivatives litigation settlements with respect to two major financial institutions, and successful arbitration of derivatives claims on behalf of a Korean investor.
• Lender in the bankruptcy case of MF Global, a major global commodities broker.
• Lender group in the restructuring of Lyondell Chemical Co.
• Debtor-in-possession lender through a securitization in Peabody Energy and in Arch Coal.
• Numerous unsecured creditors in the Kmart Corporation bankruptcy case in connection with prosecution of their claims.
• Aircraft lenders in the chapter 11 restructuring of United Airlines, Inc.
• Dow Chemical in the bankruptcy case of Dow Corning.
• Securitization lender in DVI, Inc.
• Lender in the chapter 11 restructuring of The Education Resources Institute Inc., a provider of student loans.
• Agent for the lender group in the chapter 11 reorganization of Quaker Coal Company.
• Investors in Amfac Hawaii, LLC, the chapter 11 restructuring of a Hawaii-based land development company.
• Agent for the lender group in Newstar Energy USA, Inc. in the bankruptcy restructuring of its oil and gas operations.
• Lender to Dee Howard Aircraft Maintenance.
• Agent for the lenders to Alterra Healthcare Corporation.
• Lender to Winstar Communications, Inc., a telecommunications company.
• Lender to JHT Holdings in the chapter 11 restructuring of its truck transportation services business.
• Lender in Chapter 15 case of Cover-All Holding Corp., a Canadian manufacturer of fabric buildings.
• Lender to Ed Debevic’s, a restaurant chain.
• Purchaser of assets in the bankruptcy case of Whitehall Jewellers.
• Represented defrauded investors in the bankruptcy case of Lancelot Investors Fund, L.P., a significant Ponzi scheme related to the Petters bankruptcy case.  Representation included successful defense of avoidance actions under the bankruptcy safe harbors.
• Buyer of pipeline assets out of the bankruptcy case of National Energy & Gas Transmission, Inc.
• Lessor of railcars to Asarco LLC.
• Bank provider of letters of credit to Keene Corporation for back appeals related to the company’s asbestos liabilities.
• Commercial real estate landlord in the bankruptcy case of U.S. Metalsource Corp. with respect to its steel warehouse facility in Chicago.

Debtor Representations

• Forty-Eight Insulations, Inc., one of the earliest asbestos liability cases.
• ATP Oil & Gas Corporation, a significant driller and operator of offshore wells.

Creditor’s Committee Representations

• Highland Superstores, in which the Committee terminated exclusivity and conducted the liquidation of the debtor through a chapter 11 plan.
• Midcom Communications in which, after the sale of all the company’s assets, the Committee terminated exclusivity and conducted the liquidation of the debtor through a chapter 11 plan.
   

• University of Notre Dame, 学士
• University of Illinois at Urbana-Champaign, 文学硕士
• The University of Michigan Law School, 法律博士, 优等成绩

• 密歇根州
• 伊利诺伊州